LIFE NEEDS WATER. MAKE IT PRIMO WATER." 4 4 "Must Win" Priorities Tom Harrington David Hass CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER • Q1 2024 Financial Summary • Must Win Priorities • Q1 2024 Reported Results • 2024 Financial Outlook • Q&A EDS WATER. MAKE IT PRIMO WATER." 3 Q1 2024 Financial Summary | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------|----------------------------|--------------------|----------------------------------------------------- ...

Exhibit 99.1 CONTACT: Jon Kathol Vice President, Investor Relations Tel:813-544-8515 investorrelations@primowater.com Primo Water Announces First Quarter 2024 Results And Declares Quarterly Dividend TAMPA, FL – May 9, 2024 – Primo Water Corporation (NYSE: PRMW; TSX: PRMW) (the "Company" or "Primo Water"), a leading provider of sustainable drinking water solutions in North America, today announced its results for the first quarter ended March 30, 2024. "This quarter we exceeded the high end of our guidance f ...

United States Securities and Exchange Commission Washington, D.C. 20549 Form 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 30, 2023 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 001-31410 PRIMO WATER CORPORATION (Exact name of registrant as specified in its charter) Ontario 98-0154711 (State or Other Jurisdiction of Incorporati ...

Yes, John, thanks. This is David. It is. So ARO would be a natural outcome of the business model gaining the volumetric growth that comes either from the Water Direct side of the business or the water exchange growth that comes out through our retail relationships. There is a natural ceiling, but as a reminder, inside that, that is a route average on a roughly 2,000 route basis. Yes. I guess maybe it should be better said is that's a long-term ceiling we hope to remain below. We have no immediate needs in t ...

Exhibit 99.1 CONTACT: Jon Kathol Vice President, Investor Relations Tel:813-544-8515 investorrelations@primowater.com Primo Water Reports Full-Year And Fourth Quarter 2023 Results FISCAL 2023 HIGHLIGHTS - CONTINUING OPERATIONS (Unless stated otherwise, all fourth quarter 2023 comparisons are relative to the fourth quarter of 2022 and all fiscal year 2023 comparisons are relative to fiscal year 2022; all information is in U.S. dollars and, unless stated otherwise, is on a continuing operations basis. Non-GAA ...

Financial Data and Key Metrics Changes - Consolidated revenue increased by 6% to $622 million compared to $585 million in the previous year, with adjusted EBITDA growing by 21% to $141 million, resulting in an adjusted EBITDA margin of 22.7%, a 270 basis point increase year-over-year [11][37][44] - Adjusted free cash flow reached $102 million for the quarter, with full-year guidance raised to $160 million, an increase of $10 million from previous guidance [11][20][42] Business Line Data and Key Metrics Changes - Water Direct and Exchange revenue grew by 7%, while Water Refill and Filtration saw a significant increase of 19% driven by pricing and service consistency [12][14] - North America revenue increased by 5% to $470 million, with adjusted EBITDA in North America rising by 18% to $121 million and adjusted EBITDA margins climbing to 25.7% [19][37][45] Market Data and Key Metrics Changes - European segment revenue increased by 13% to $81 million, with adjusted EBITDA in Europe rising by 32% to $20 million, reflecting a strong performance despite foreign exchange impacts [45] Company Strategy and Development Direction - The company announced a strategic transaction to sell a significant portion of its International businesses to Culligan International for up to $575 million, allowing a focus on the North American market [8][34][50] - Post-transaction, the company aims to maintain net leverage under 2.5 times adjusted EBITDA and plans to authorize an additional $25 million share repurchase program [9][10][66] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving previously communicated 2024 financial targets, with expectations of continued growth in customer retention and operational metrics [27][50] - The company is closely monitoring the situation in Israel, where recent disruptions have had a minor impact on operations [16][77] Other Important Information - The company has received approximately $5.1 million in tariff refunds related to water dispensers, contributing positively to adjusted free cash flow [22][48] - Management highlighted the importance of route density and customer retention, with a reported retention rate of approximately 86% for Water Direct customers [39][148] Q&A Session Summary Question: Clarification on EBITDA step down in pro forma business - Management clarified that the step down from $470 million to $375 million in EBITDA includes adjustments for corporate components and does not account for optimization gains expected from right-sizing the business [75][76] Question: Revenue and adjusted EBITDA guidance for Q4 - Management maintained that the guidance for Q4 remains unchanged due to conservatism regarding potential impacts from the situation in Israel [77] Question: Pricing strategy for 2024 - Management indicated that they do not currently see the need for accelerated pricing in 2024, but will monitor inflation and fuel prices closely [148] Question: Opportunities in the M&A market - Management noted that they are excited about the robust pipeline for tuck-in acquisitions and believe market conditions are favorable for executing these strategies [113][139] Question: Tax implications of the transaction - Management estimated minimal tax leakage from the transaction, reserving under $10 million for conservatism [107] Question: Route density improvement potential - Management indicated that there is still room for improvement in route density, with expectations of continued growth through customer acquisitions and operational efficiencies [111]

United States Securities and Exchange Commission Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended: September 30, 2023 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to l Commission File Number: 001-31410 PRIMO WATER CORPORATION (Exact name of registrant as specified in its charter) Ontario 98-0154711 (State or Other Jurisdiction o ...

(1) Reported revenue in Q2 2022 includes $14.4 million of revenues associated with our North American single use bottled water retail business and $3.7 million of revenues associated with our Russia business; there is no revenue attributable to these businesses in Q2 2023, as we exited these businesses before the second quarter of 2023. See appendix for full reconciliation. Revenue Growth Through | --- | --- | --- | --- | |-------|-------|-------|-------| | | | | | | • Strong revenue growth in Water Direct ...

Financial Data and Key Metrics Changes - Consolidated revenue increased by 4% to $593 million compared to $571 million, with normalized revenue growth of 8% excluding foreign exchange impact [18][37] - Adjusted EBITDA grew by 13% to $122 million, representing a margin expansion of 160 basis points to 20.5% [12][18] - The company increased its annual revenue guidance to between $2.32 billion and $2.36 billion, with adjusted EBITDA expected to be between $460 million and $480 million [17][20] Business Line Data and Key Metrics Changes - Water Direct and Exchange business experienced a revenue growth of 7%, with a customer retention rate of approximately 85% [12][39] - Water Refill and Filtration business saw an 18% increase in revenue, driven by pricing and improved service levels [40] - North America revenue increased by 3% to $451 million, with adjusted EBITDA in North America rising by 10% to $107 million [44] Market Data and Key Metrics Changes - European segment revenue increased by 12% to $78 million, with adjusted EBITDA in Europe rising by 50% to $18 million [19][44] - The company reported a strong performance in Europe, returning to pre-pandemic levels [45] Company Strategy and Development Direction - The company is focused on improving route density and operational efficiencies, with investments in automated route optimization tools [41] - A tuck-in acquisition strategy is being pursued to enhance customer growth and operational scale, exemplified by the acquisition of Diamond Springs [15][63] - The company remains committed to achieving a net leverage ratio below 3x by the end of 2023 and less than 2.5x by the end of 2024 [25][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to generate strong cash flow and maintain high single-digit revenue growth [79][96] - The company anticipates continued strong demand in both Water Direct and Exchange businesses, supported by marketing initiatives and customer experience improvements [111][145] - Management highlighted the importance of transparency regarding free cash flow and committed to providing clearer guidance moving forward [119] Other Important Information - The Board of Directors authorized a quarterly dividend of $0.08 per common share, continuing a multiyear dividend step-up plan [27] - The company plans to invest an incremental $30 million per year in 2023 and 2024, reflecting confidence in performance [22] Q&A Session All Questions and Answers Question: Can you provide more on the primary drivers for generating $350 million of implied cash flow from operations? - Management indicated that increased earnings power and tariff refunds are key drivers, slightly offset by estimated cash taxes [30][57] Question: What gives you confidence in driving stronger operating leverage next year? - Management cited solid performance in route operations and investments as contributing factors to confidence in future growth [31][32] Question: How is the volume and price breakdown in Water Direct, and what is the outlook for gross margins? - Management explained that pricing has been a key driver of revenue growth, with expectations for stable gross margins moving forward [66][71] Question: How do you plan to address pricing in the second half of the year? - Management stated that normal pricing will be applied to the installed customer base, with no plans for significant changes [104][105] Question: Can you discuss changes in residential consumer behavior and expectations for Q3? - Management noted strong demand in Water Direct and Exchange businesses, attributing this to effective customer acquisition strategies [111][112]

Primo Water Corporation (NYSE:PRMW) Q1 2023 Earnings Conference Call May 4, 2023 10:00 AM ET Jon Kathol - Vice President, Investor Relations Tom Harrington - Chief Executive Officer David Hass - Chief Financial Officer Operator The companyÂ's actual performance could differ materially from these statements, and the company undertakes no duty to update these forward-looking statements, except as expressly required by applicable law. A reconciliation of any non-GAAP financial measures discussed during the cal ...